To Innovation - Breaking Politics, Economics, Crypto & IT News

learn more
Reporting from Watford, UK and LA, US since 1996
learn more




TOP STORIES
Zuckerberg discussed "TikTok danger" during private dinner with Trump

Facebook spokesman says that Zuckerberg 'cannot remember' discussing the issue of TikTok wit...



Another warning for crypto investors



BlackRock, the global investment management company, states that it assumes a wider role for cryptocurrencies in the future, and that blockchain have promise but it is not without obstacles.



26.Feb.18 11:40 PM
By Daria Zaytseva
Photo Toinnov.com

   233

Another warning for crypto investors

The positive, but cautious remarks were part of the Global Weekly Commentary firm, published on Monday by world investment strategist Richard Turnill.

He believes that cryptocurrency should be considered only by those who can potentially suffer full losses. Likewise, blockchain needs to overcome significant obstacles to achieve its promising future.

“Although cryptocurrency have promise, they remain too volatile, unregulated and risky to be integrated into the main investment portfolios right now”, Turnill writes.

Similarly, the commentary recognized the "destructive potential" of blockchain for industries "from logistics and pharmaceuticals to financial services," but said that its adoption would not be uninterrupted and should include regulators and central banks.

This is not the first time BlackRock or Turnill have chimed in on the crypto conversation. He previously called cryptocurrency markets "scary" and a bubble, and argued that there is no way to estimate the "fair value" for bitcoin or any other coins.

However, yesterday BlackRock’s CEO Larry Fink struck a different tone last fall, and approved the potential of cryptocurrencies, calling himself "a big believer" in their prospects.

Commentary of BlackRock suggests that it is unlikely to move on cryptocurrency soon, and it had previously rejected the idea of a bitcoin exchange-traded fund. Nevertheless, its further actions remain to be determined, as the market is developing, according to Turnill.




Back to the list


Related Information: